Why CNOOC (CEO) Stock Is Lower Today

NEW YORK (TheStreet) -- Shares of CNOOC Ltd. (CEO) are down -1.43% to $163.56 as the Beijing-based offshore crude oil and natural gas producer sells multibillion-dollar bonds in three portions, in part to repay loans related to $15.1 billion purchase of Canadian oil-sands operator Nexen Inc., sources say, the Wall Street Journal reports.

Cnooc's bonds are marketed to U.S. investors, and are provisionally rated at Aa3 by Moody's Investors Service and AA- by Standard & Poor's.

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